- PEPE confirms a breakout with over 20% gain, aiming for $0.00003000 as bullish reversal takes shape.
- Technical analysis highlights strong support at $0.00000841 and next resistance levels at $0.00001150 and $0.00001668.
- Renewed investor interest and rising volume signal growing momentum as PEPE leads the meme coin resurgence.
As of May 2, the current price of Pepe (PEPE) is $0.000008899 and it is listed at a trading volume of $497 million in the past 24 hours. PEPE has a boasting market capitalization of approximately $3.71 billion. The circulating supply currently stands at nearly 420.69 trillion tokens, bringing it very close to the maximum supply limit. PEPE has a maximum price of $0.00002825, one on December 9, 2024, and now is 68.78.00% down from the all time high.
PEPE Targets $0.00003000 After Confirmed Breakout
According to a technical analysis shared by Bitcoin Buddha, PEPE/USDT has broken out of a prolonged downtrend and is now showing signs of a strong bullish reversal, suggesting a potential for explosive upside in the coming weeks.
As per the chart, there is a classic descending channel (bottom in blue), which contains prices from December 2024 until May 2025. This is because after cryptocurrency peaked near $0.00002841 in late 2024, this downtrend started from that point of the parabolic rally. Afterward, a long correction phase ensued, resulting in more than an 80% correction of the market prices.
Despite this, a trend shift seems to have taken place in late April as PEPE broke through the descending channel successfully. Breakout has confirmed the price gained over 20%, since then. Support level at $0.00000525 is strengthened by the formation of a rounded bottom. As we see in some of the charts, a critical support-turned-resistance zone at $0.00000841 has now been retested and has been flipped into support.
If PEPE continues similarly, it will make its path higher, hitting resistance at $0.00001150, $0.00001668, and $0.00002335. The bullish momentum could push the price to revisit the previous high near $0.00002841, which corresponds to the psychological barrier of $0.00003000.
There is healthy consolidations in the process, signifying sustainable price growth rather than a flash rally in the projection. The same chart also notes similar accumulation zones found in other cycles (such as October 2024) to mark previous historical behavior that promotes the uptrend.
The sentiment among the investors has become positive lately for the meme coins and PEPE seems to be among the ones that are triggering the comeback. Maintenance by traders and renewed interest can be seen with volume data, in addition to showing steady growth.
To sum up, technical indicators and fractals in the past confirm the bulls’ case for PEPE. The coin could make a broader market rally back up to $0.00001668 level and stimulation of the meme coin mania of late 2024 could take it much higher than $0.00000841 levels.
